507C.58 Interstate priorities. 1. In a liquidation proceeding in this state involving one or more reciprocal states, the order of distribution of the domiciliary state shall control as to claims of residents of thisand reciprocal states. Claims of residents of reciprocal states shall be given equal priority ofpayment from general assets regardless of where the assets are located. 2. The owners of special deposit claims against an insurer for which a liquidator is appointed in this or any other state is given priority against the special deposits in accordancewith the statutes governing the creation and maintenance of the deposits. If there is adeficiency in a deposit so that the claims secured by it are not fully discharged from it, theclaimants may share in the general assets. However, the sharing shall be deferred untilgeneral creditors and claimants against other special deposits who have received smallerpercentages from their respective special deposits have been paid percentages of theirclaims equal to the percentage paid from the special deposit. 3. The owner of a secured claim against an insurer for which a liquidator has been appointed in this or any other state may tages of theirclaims equal to the percentage paid from the special deposit. 3. The owner of a secured claim against an insurer for which a liquidator has been appointed in this or any other state may surrender the security and file the claim as a generalcreditor, or the claim may be discharged by resort to the security in accordance with section507C.41, in which case the deficiency shall be treated as a claim against the general assetsof the insurer on the same basis as claims of unsecured creditors. 84 Acts, ch 1175, §58 Sat Dec 23 00:40:05 2023 Iowa Code 2024, Section 507C.58 (17, 0)
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